The Political Economy of the Asian Financial CrisisColumbia University Press, 1 µ.¤. 2010 - 304 ˹éÒ The Asian crisis has sparked a thoroughgoing reappraisal of current international financial norms, the policy prescriptions of the International Monetary Fund, and the adequacy of the existing financial architecture. To draw proper policy conclusions from the crisis, it is necessary to understand exactly what happened and why from both a political and an economic perspective. In this study, renowned political scientist Stephan Haggard examines the political aspects of the crisis in the countries most affected—Korea, Thailand, Malaysia, and Indonesia. Haggard focuses on the political economy of the crisis, emphasizing the longer-run problems of moral hazard and corruption, as well as the politics of crisis management and the political fallout that ensued. He looks at the degree to which each government has rewoven the social safety net and discusses corporate and financial restructuring and greater transparency in business-government relations. Professor Haggard provides a counterpoint to the analysis by examining why Singapore, Taiwan, and the Philippines escaped financial calamity. |
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˹éÒ iv
... crises—Asia—Case studies. I. Title. HG187.A2 H34 2000 332.095—dc21 00-038312 ISBN 0-88132-283-0 The views expressed in this publication are those of the author. This publication is part of the overall program of the Institute, as ...
... crises—Asia—Case studies. I. Title. HG187.A2 H34 2000 332.095—dc21 00-038312 ISBN 0-88132-283-0 The views expressed in this publication are those of the author. This publication is part of the overall program of the Institute, as ...
˹éÒ viii
... Crises Crisis and Political Change Looking Forward I: The Reform of Business-Government Relations Looking Forward II: Toward a New Social Contract A New Asian Miracle References 47 49 51 55 59 65 71 73 87 92 100 107 114 124 126 139 141 ...
... Crises Crisis and Political Change Looking Forward I: The Reform of Business-Government Relations Looking Forward II: Toward a New Social Contract A New Asian Miracle References 47 49 51 55 59 65 71 73 87 92 100 107 114 124 126 139 141 ...
˹éÒ x
... 1978-96 189 Figure 5.2 Average per capita income, by quintile: Indonesia, Malaysia, South Korea, and Thailand 193 Preface The study of financial crises in emerging market economies Institute for International Economics | http://www.iie.com.
... 1978-96 189 Figure 5.2 Average per capita income, by quintile: Indonesia, Malaysia, South Korea, and Thailand 193 Preface The study of financial crises in emerging market economies Institute for International Economics | http://www.iie.com.
˹éÒ xi
... crises in emerging market economies in the 1990s. Guillermo Calvo, Morris Goldstein and Eduard Hochreiter examined Private Capital Flows to Emerging Markets after the Mexican Crisis (1996). Goldstein made one of the first presentations ...
... crises in emerging market economies in the 1990s. Guillermo Calvo, Morris Goldstein and Eduard Hochreiter examined Private Capital Flows to Emerging Markets after the Mexican Crisis (1996). Goldstein made one of the first presentations ...
˹éÒ xii
... crises in the most-seriously affected countries: Thailand, Indonesia, Malaysia, and South Korea. He notes that the nature of business-government relations in East Asia had troubling as well as beneficial aspects. The problem was not so ...
... crises in the most-seriously affected countries: Thailand, Indonesia, Malaysia, and South Korea. He notes that the nature of business-government relations in East Asia had troubling as well as beneficial aspects. The problem was not so ...
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1 | |
15 | |
Ch
2 Incumbent Governments and the Politics of Crisis Management | 47 |
Ch 3 Crisis Political Change and Economic Reform | 86 |
Ch 4 The Politics of Financial and Corporate Restructuring | 139 |
Safety Nets and Recrafting the Social Contract | 183 |
A New Asian Miracle | 217 |
References | 239 |
Index | 255 |
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administrative Anwar Asia ASIAN FINANCIAL CRISIS assets authoritarian banking sector bankruptcy billion bumiputra business-government relations capital central bank chaebol chapter Chinese Chuan CLOB coalition controls corporate governance corporate restructuring corruption countries country’s crises CRISIS MANAGEMENT Danaharta debt democracies democratic Development Eastern Economic Review ECONOMIC REFORM effects efforts elections electoral finance companies financial and corporate financial institutions financial sector firms fiscal foreign funds Golkar government’s groups growth Habibie Hanbo IBRA important incentives increase INCUMBENT GOVERNMENTS Indonesia industrial initial interest investment investors issues Jomo Kim Dae Jung Kim Young Kim Young Sam labor legislative liberalization Mahathir Malaysia ment moral hazard National opposition particularly party percent Philippines POLITICAL CHANGE POLITICAL ECONOMY president private sector problems recapitalization region regulatory Renong ringgit risk role rule share social contract South Korea state-owned strategy substantial Suharto Table Thai Thailand tion transparency UMNO urban vulnerable World Bank